Billions of dollars poured into ICOs, where companies raised capital by issuing new virtual coins. Most projects failed to gain traction, and many investors lost their money. Over $50 billion of cryptocurrency moved from China-based digital wallets to other parts of the Bitcoin SuperSplit in the last year, pointing to possibilities that Chinese investors are transferring more money than allowed out of the country, a new report claims. Facebook’s contribution to the cryptocurrency world — Libra — has been hyped in some corners as the answer to a variety of financial issues.

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